{"id":3871,"date":"2006-01-19T00:00:00","date_gmt":"2006-01-19T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"mellon-rebuffs-hedge-funds-call-to-break-up","status":"publish","type":"post","link":"https:\/\/www.hedgeco.net\/news\/01\/2006\/mellon-rebuffs-hedge-funds-call-to-break-up.html","title":{"rendered":"Mellon rebuffs hedge fund&#8217;s call to break up"},"content":{"rendered":"<p>Reuters &#8211; Mellon Financial Corp. (MEL.N: <a href=\"http:\/\/today.reuters.com\/stocks\/overview.aspx?symbol=MEL.N\">Quote<\/a>, <a href=\"http:\/\/today.reuters.com\/stocks\/CompanyProfile.aspx?symbol=MEL.N\">Profile<\/a>, <a href=\"http:\/\/today.reuters.com\/stocks\/ResearchReports.aspx?symbol=MEL.N\">Research<\/a>) on Wednesday defended itsrecord and rejected calls from one its largest investors to split its investment management and processing businesses to help boost the company&#8217;s share price.<\/p>\n<p>  In a firmly worded letter, Mellon Chief Executive Officer Martin McGuinn told hedge fund Highfields Capital, &#8220;We are committed to the asset management and asset servicing business and our clients  understand this commitment.&#8221;<\/p>\n<p>  McGuinn, who has led the Pittsburgh-based company since 1999, and Mellon&#8217;s board are being criticized by the Boston-based hedge fund for failing to earn shareholders more money in the last few  years.<\/p>\n<p><a href=\"http:\/\/today.reuters.com\/investing\/financeArticle.aspx?type=bondsNews&amp;storyID=2006-01-18T195532Z_01_N18204498_RTRIDST_0_FINANCIAL-MELLON-FUND-UPDATE-1.XML\">Read Complete Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters &#8211; Mellon Financial Corp. (MEL.N: Quote, Profile, Research) on Wednesday defended itsrecord and rejected calls from one its largest investors to split its investment management and processing businesses to help boost the company&#8217;s share price. In a firmly worded [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3871","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/3871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=3871"}],"version-history":[{"count":0,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/3871\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=3871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=3871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=3871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}